Concurrent Investment Advisors LLC Acquires 782 Shares of Ulta Beauty Inc. $ULTA

Key Points

• Concurrent Investment Advisors LLC increased its stake in Ulta Beauty Inc. by 142.4% during the second quarter, acquiring an additional 782 shares to reach a total of 1,331 shares valued at $623,000.
• Analysts have rated Ulta Beauty with a consensus of "Moderate Buy" and an average price target of $550.38, with upgrades from firms like DA Davidson and Robert W. Baird recently raising their targets.
• Ulta Beauty reported earnings of $5.78 per share for the most recent quarter, exceeding analysts' estimates of $5.03, along with revenue of $2.79 billion, an increase of 9.3% year-over-year.

Concurrent Investment Advisors LLC boosted its holdings in shares of Ulta Beauty Inc. (NASDAQ:ULTA - Free Report) by 142.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,331 shares of the specialty retailer's stock after acquiring an additional 782 shares during the period. Concurrent Investment Advisors LLC's holdings in Ulta Beauty were worth $623,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ULTA. GAMMA Investing LLC lifted its holdings in Ulta Beauty by 6.0% during the first quarter. GAMMA Investing LLC now owns 1,210 shares of the specialty retailer's stock worth $444,000 after acquiring an additional 69 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in Ulta Beauty by 110.3% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 9,926 shares of the specialty retailer's stock worth $3,638,000 after acquiring an additional 5,207 shares in the last quarter. Exchange Traded Concepts LLC lifted its holdings in Ulta Beauty by 28.1% during the first quarter. Exchange Traded Concepts LLC now owns 2,195 shares of the specialty retailer's stock worth $805,000 after acquiring an additional 481 shares in the last quarter. Sagespring Wealth Partners LLC lifted its holdings in Ulta Beauty by 5.0% during the first quarter. Sagespring Wealth Partners LLC now owns 625 shares of the specialty retailer's stock worth $229,000 after acquiring an additional 30 shares in the last quarter. Finally, Kingswood Wealth Advisors LLC lifted its holdings in Ulta Beauty by 14.8% during the first quarter. Kingswood Wealth Advisors LLC now owns 1,179 shares of the specialty retailer's stock worth $435,000 after acquiring an additional 152 shares in the last quarter. 90.39% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ULTA has been the topic of a number of research reports. DA Davidson boosted their price target on Ulta Beauty from $585.00 to $625.00 and gave the company a "buy" rating in a report on Friday, August 29th. Robert W. Baird boosted their price target on Ulta Beauty from $575.00 to $600.00 and gave the company an "outperform" rating in a report on Friday, August 29th. Wells Fargo & Company boosted their price target on Ulta Beauty from $425.00 to $450.00 and gave the company an "underweight" rating in a report on Thursday. Wall Street Zen lowered Ulta Beauty from a "buy" rating to a "hold" rating in a report on Friday, September 26th. Finally, Raymond James Financial restated an "outperform" rating and issued a $605.00 price target (up from $580.00) on shares of Ulta Beauty in a report on Friday, August 29th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $550.38.

Ulta Beauty Stock Performance

NASDAQ:ULTA opened at $533.51 on Friday. The stock's 50-day simple moving average is $531.17 and its 200 day simple moving average is $469.79. The company has a market cap of $23.92 billion, a P/E ratio of 20.46, a P/E/G ratio of 2.96 and a beta of 1.08. Ulta Beauty Inc. has a 52-week low of $309.01 and a 52-week high of $572.23.

Ulta Beauty (NASDAQ:ULTA - Get Free Report) last released its earnings results on Thursday, August 28th. The specialty retailer reported $5.78 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.03 by $0.75. The business had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.66 billion. Ulta Beauty had a return on equity of 48.78% and a net margin of 10.31%.Ulta Beauty's quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $5.30 earnings per share. As a group, equities analysts predict that Ulta Beauty Inc. will post 23.96 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Mike C. Smith sold 500 shares of Ulta Beauty stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $528.43, for a total value of $264,215.00. Following the sale, the director owned 2,263 shares of the company's stock, valued at approximately $1,195,837.09. The trade was a 18.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.17% of the company's stock.

Ulta Beauty Company Profile

Ulta Beauty, Inc operates as a specialty beauty retailer in the United States. The company offers branded and private label beauty products, including cosmetics, fragrance, haircare, skincare, bath and body products, professional hair products, and salon styling tools through its Ulta Beauty stores, shop-in-shops, Ulta.com website, and its mobile applications.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.